Register Financial Advisors LLC Acquires Shares of 2,800 American International Group, Inc. (NYSE:AIG)

Register Financial Advisors LLC acquired a new position in shares of American International Group, Inc. (NYSE:AIG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,800 shares of the insurance provider’s stock, valued at approximately $219,000.

Several other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in American International Group in the first quarter worth $29,000. Neo Ivy Capital Management purchased a new position in shares of American International Group in the 4th quarter valued at about $40,000. Scarborough Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $40,000. Blue Trust Inc. boosted its holdings in American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after buying an additional 232 shares in the last quarter. Finally, Highlander Capital Management LLC grew its position in American International Group by 144.9% during the fourth quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock worth $57,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target on shares of American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, June 11th. Piper Sandler raised their price objective on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Morgan Stanley upped their target price on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Citigroup lifted their price target on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus target price of $81.38.

American International Group Price Performance

NYSE:AIG opened at $74.24 on Friday. American International Group, Inc. has a 12-month low of $56.55 and a 12-month high of $80.83. The firm has a market cap of $49.27 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The company’s 50-day moving average is $76.75 and its two-hundred day moving average is $73.21. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. Research analysts expect that American International Group, Inc. will post 7.02 EPS for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. American International Group’s dividend payout ratio (DPR) is 23.88%.

American International Group announced that its board has initiated a share buyback plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.